Schedule of Investments (unaudited) September 30, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Asset-Backed Securities | ||||||||||||
Golub Capital Partners CLO Ltd., Series 2023-66, Class D, (3-mo. CME Term SOFR + 5.50%), 10.48%, 04/25/36(a)(b) | USD | 1,000 | $ | 1,000,463 | ||||||||
Palmer Square CLO Ltd., Series 2023-2A, Class D, (3-mo. CME Term SOFR + 5.00%), 6.80%, 04/20/36(a)(b) | 1,000 | 1,009,265 | ||||||||||
Pikes Peak CLO Ltd., Series 2023-14, Class D, (3- mo. CME Term SOFR + 5.45%), 10.64%, 04/20/36(a)(b) | 1,000 | 1,003,057 | ||||||||||
Symphony CLO Ltd., Series 2023-38, Class D, (3- mo. CME Term SOFR + 5.20%), 10.02%, 04/24/36(a)(b) | 1,000 | 1,013,141 | ||||||||||
Whitebox CLO IV Ltd., Series 2023-4A, Class D, (3-mo. CME Term SOFR + 5.15%), 9.93%, 04/20/36(a)(b) | 1,000 | 1,001,553 | ||||||||||
|
| |||||||||||
Total Asset-Backed Securities — 1.1% |
| 5,027,479 | ||||||||||
|
| |||||||||||
Shares | ||||||||||||
Common Stocks | ||||||||||||
Construction & Engineering — 0.0% | ||||||||||||
McDermott International Ltd.(c) | 123,933 | 30,983 | ||||||||||
|
| |||||||||||
Electrical Equipment — 0.0% | ||||||||||||
SunPower Corp.(c) | 1,860 | 11,476 | ||||||||||
|
| |||||||||||
Energy Equipment & Services — 0.0% | ||||||||||||
Project Investor Holdings LLC, (Acquired 02/12/19, Cost: $0)(d)(e) | 6,099 | — | ||||||||||
|
| |||||||||||
Entertainment — 0.0% | ||||||||||||
Learfield Communications LLC, (Acquired 09/06/23, Cost: $232,324)(d)(e) | 6,803 | 251,711 | ||||||||||
|
| |||||||||||
Financial Services — 0.1% | ||||||||||||
NMG Parent LLC | 3,613 | 411,882 | ||||||||||
|
| |||||||||||
Oil, Gas & Consumable Fuels — 0.0% | ||||||||||||
Kcad Holdings I Ltd.(d) | 309,827,230 | 3,099 | ||||||||||
|
| |||||||||||
Semiconductors & Semiconductor Equipment — 0.0% | ||||||||||||
Maxeon Solar Technologies Ltd.(c) | 232 | 2,689 | ||||||||||
|
| |||||||||||
Total Common Stocks — 0.1% | 711,840 | |||||||||||
|
| |||||||||||
Par (000) | ||||||||||||
Corporate Bonds | ||||||||||||
Automobile Components — 0.1% | ||||||||||||
Clarios Global LP, 6.75%, 05/15/25(b) | USD | 446 | 442,642 | |||||||||
|
| |||||||||||
Building Materials — 0.0% | ||||||||||||
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29(b) | 118 | 107,143 | ||||||||||
|
| |||||||||||
Building Products — 0.1% | ||||||||||||
White Cap Buyer LLC, 6.88%, 10/15/28(b) | 250 | 220,953 | ||||||||||
|
|
Security | Par (000) | Value | ||||||||||
Capital Markets — 0.0% | ||||||||||||
AG TTMT Escrow Issuer LLC, 8.63%, 09/30/27(b) | USD | 119 | $ | 119,729 | ||||||||
|
| |||||||||||
Chemicals(b) — 0.1% | ||||||||||||
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28 | 51 | 48,167 | ||||||||||
WR Grace Holdings LLC, 5.63%, 08/15/29 |
| 388 | 313,795 | |||||||||
|
| |||||||||||
361,962 | ||||||||||||
Commercial Services & Supplies — 0.0% | ||||||||||||
Prime Security Services Borrower LLC/Prime Finance, Inc., 6.25%, 01/15/28(b) | 207 | 191,717 | ||||||||||
|
| |||||||||||
Construction & Engineering — 0.1% | ||||||||||||
Brand Industrial Services, Inc., 10.38%, 08/01/30 | 249 | 249,383 | ||||||||||
|
| |||||||||||
Construction Materials — 0.0% | ||||||||||||
Wesco Aircraft Holdings, Inc., 9.00%, 11/15/26(b) | 1,013 | 96,235 | ||||||||||
|
| |||||||||||
Diversified Telecommunication Services — 0.0% | ||||||||||||
Zayo Group Holdings, Inc., 6.13%, 03/01/28(b) | 251 | 161,323 | ||||||||||
|
| |||||||||||
Electric Utilities — 0.0% | ||||||||||||
Texas Competitive Electric Holdings, Series M, 5.03%, 10/10/19(a)(c)(d)(f) | 1,710 | — | ||||||||||
|
| |||||||||||
Electronic Equipment, Instruments & Components — 0.2% | ||||||||||||
Vertiv Group Corp., 4.13%, 11/15/28(b) | 901 | 791,989 | ||||||||||
|
| |||||||||||
Health Care Providers & Services — 0.1% | ||||||||||||
Medline Borrower LP, 5.25%, 10/01/29(b) | 384 | 331,890 | ||||||||||
|
| |||||||||||
Hotels, Restaurants & Leisure(b) — 0.2% | ||||||||||||
Caesars Entertainment, Inc., 4.63%, 10/15/29 | 390 | 330,354 | ||||||||||
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., 6.75%, 01/15/30 | 641 | 522,479 | ||||||||||
|
| |||||||||||
852,833 | ||||||||||||
Insurance — 0.1% | ||||||||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 6.75%, 10/15/27(b) | 357 | 332,014 | ||||||||||
|
| |||||||||||
Internet Software & Services(b) — 0.1% | ||||||||||||
Expedia Group, Inc., 6.25%, 05/01/25 | 337 | 337,554 | ||||||||||
Uber Technologies, Inc., 4.50%, 08/15/29 | 381 | 340,560 | ||||||||||
|
| |||||||||||
678,114 | ||||||||||||
IT Services — 0.0% | ||||||||||||
Central Parent LLC/CDK Global II LLC/CDK Financing Co, Inc., 8.00%, 06/15/29 | 191 | 190,293 | ||||||||||
|
| |||||||||||
Media(b) — 0.2% | ||||||||||||
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23(g) | 263 | 77,435 | ||||||||||
Odeon Finco PLC, 12.75%, 11/01/27 | 607 | 603,643 | ||||||||||
Radiate Holdco LLC/Radiate Finance, Inc., 4.50%, 09/15/26 | 573 | 435,288 | ||||||||||
|
| |||||||||||
1,116,366 | ||||||||||||
Passenger Airlines — 0.3% | ||||||||||||
Allegiant Travel Co., 8.50%, 02/05/24(b) | 1,195 | 1,195,000 | ||||||||||
|
| |||||||||||
Real Estate Management & Development — 0.2% | ||||||||||||
Anywhere Real Estate Group LLC / Anywhere Co- Issuer Corp., 7.00%, 04/15/30(b) | 727 | 656,298 |
1
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Real Estate Management & Development (continued) | ||||||||||||
Cushman & Wakefield U.S. Borrower LLC, 8.88%, 09/01/31 | USD | 84 | $ | 81,270 | ||||||||
Realogy Group LLC/Realogy Co.-Issuer Corp., 5.75%, 01/15/29(b) | 46 | 33,256 | ||||||||||
|
| |||||||||||
770,824 | ||||||||||||
Wireless Telecommunication Services — 0.0% | ||||||||||||
VICI Properties LP/VICI Note Co., Inc., 4.63%, 06/15/25(b) | 138 | 133,265 | ||||||||||
|
| |||||||||||
Total Corporate Bonds — 1.8% |
| 8,343,675 | ||||||||||
|
| |||||||||||
Fixed Rate Loan Interests | ||||||||||||
Media — 0.2% | ||||||||||||
AVSC Holding Corp., 2020 Term Loan B3, (5.00% Cash and 10.00% PIK), 15.00%, 10/15/26(g) | 964 | 988,826 | ||||||||||
|
| |||||||||||
Total Fixed Rate Loan Interests — 0.2% |
| 988,826 | ||||||||||
|
| |||||||||||
Floating Rate Loan Interests(a) | ||||||||||||
Aerospace & Defense — 4.8% | ||||||||||||
Atlas CC Acquisition Corp. | ||||||||||||
Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.25%), 9.93%, 05/25/28 | 2,825 | 2,627,051 | ||||||||||
Term Loan C, (3-mo. CME Term SOFR at 0.75% Floor + 4.25%), 9.93%, 05/25/28 | 575 | 534,315 | ||||||||||
Bleriot U.S. Bidco, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR + 4.00%), 9.65%, 10/31/28 | 970 | 970,193 | ||||||||||
Cobham Ultra SeniorCo SARL, USD Term Loan B, (6-mo. CME Term SOFR at 0.50% Floor + 3.50%), 9.36%, 08/03/29 | 370 | 367,804 | ||||||||||
Dynasty Acquisition Co., Inc., 2023 Term Loan B1, (1-mo. CME Term SOFR + 4.00%), 9.32%, 08/24/28 | 3,819 | 3,807,700 | ||||||||||
NORDAM Group, Inc., Term Loan B, (1-mo. CME Term SOFR + 5.60%), 10.92%, 04/09/26 | 756 | 683,560 | ||||||||||
Peraton Corp. | ||||||||||||
2nd Lien Term Loan B1, (3-mo. CME Term SOFR at 0.75% Floor + 7.75%), 13.23%, 02/01/29 | 1,691 | 1,651,994 | ||||||||||
Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.17%, 02/01/28 | 5,639 | 5,621,863 | ||||||||||
Setanta Aircraft Leasing Designated Activity Co., Term Loan B, (3-mo. CME Term SOFR + 2.00%), 7.65%, 11/05/28 | 1,340 | 1,338,539 | ||||||||||
Standard Aero Ltd., 2023 Term Loan B2, (1-mo. CME Term SOFR + 4.00%), 9.32%, 08/24/28 |
| 1,637 | 1,631,872 | |||||||||
TransDigm, Inc., 2023 Term Loan I, (3-mo. CME Term SOFR + 3.25%), 8.64%, 08/24/28 | 2,994 | 2,993,305 | ||||||||||
|
| |||||||||||
22,228,196 | ||||||||||||
Automobile Components — 0.8% | ||||||||||||
Adient U.S. LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 3.25%), 8.68%, 04/10/28 | 664 | 663,165 |
Security | Par (000) | Value | ||||||||||
Automobile Components (continued) | ||||||||||||
Clarios Global LP, 2023 Incremental Term Loan, (1-mo. CME Term SOFR + 3.75%), 9.07%, 05/06/30 | USD | 2,264 | $ | 2,256,936 | ||||||||
Tenneco, Inc., 2022 Term Loan B, (3-mo. CME Term SOFR + 5.00%), 10.48%, 11/17/28 | 1,123 | 950,900 | ||||||||||
|
| |||||||||||
3,871,001 | ||||||||||||
Automobiles — 0.6% | ||||||||||||
Dealer Tire Financial LLC, Series B, Term Loan B2, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.82%, 12/14/27 | 2,526 | 2,527,138 | ||||||||||
|
| |||||||||||
Beverages — 1.1% | ||||||||||||
Naked Juice LLC | ||||||||||||
2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.49%, 01/24/30 | 1,804 | 1,456,115 | ||||||||||
Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.74%, 01/24/29 | 3,865 | 3,662,776 | ||||||||||
|
| |||||||||||
5,118,891 | ||||||||||||
Broadline Retail — 1.8% | ||||||||||||
Fanatics Commerce Intermediate Holdco LLC, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.83%, 11/24/28 | 1,695 | 1,690,509 | ||||||||||
Midas Intermediate Holdco II LLC, 2022 PIK Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 6.85%, 1.50% PIK), 15.17%, 06/30/27(g) | 1,727 | 1,625,565 | ||||||||||
PUG LLC | ||||||||||||
2021 Incremental Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.68%, 02/12/27(d) | 364 | 345,420 | ||||||||||
USD Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.93%, 02/12/27 | 3,756 | 3,535,934 | ||||||||||
Sally Holdings, LLC, 2023 CovLite Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.57%, 02/28/30 | 631 | 630,830 | ||||||||||
Woof Holdings, Inc., 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.40%, 12/21/27 | 380 | 299,855 | ||||||||||
|
| |||||||||||
8,128,113 | ||||||||||||
Building Products — 1.9% | ||||||||||||
AZZ, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.07%, 05/13/29 | 261 | 261,742 | ||||||||||
Cornerstone Building Brands, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.68%, 04/12/28 | 264 | 256,930 | ||||||||||
CP Atlas Buyer, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.17%, 11/23/27 | 1,455 | 1,369,217 | ||||||||||
CPG International LLC, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.92%, 04/28/29 | 792 | 791,010 | ||||||||||
IPS Corp. | ||||||||||||
2021 2nd Lien Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 7.00%), 12.42%, 10/01/29(d) | 1,046 | 889,100 | ||||||||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.17%, 10/02/28 | 592 | 571,692 | ||||||||||
Jeld-Wen, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.68%, 07/28/28 | 813 | 811,805 |
S C H E D U L E O F I N V E S T M E N T S | 2 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Building Products (continued) | ||||||||||||
LSF10 XL Bidco SCA, 2021 EUR Term Loan B4, (3-mo. EURIBOR + 4.18%), 8.15%, 04/12/28 | EUR | 853 | $ | 773,921 | ||||||||
Wilsonart LLC, 2021 Term Loan E, (3-mo. CME Term SOFR at 1.00% Floor + 3.25%), 8.74%, 12/31/26 | USD | 3,148 | 3,135,850 | |||||||||
|
| |||||||||||
8,861,267 | ||||||||||||
Capital Markets — 3.4% | ||||||||||||
Ascensus Holdings, Inc. | ||||||||||||
2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 6.50%), 12.03%, 08/02/29 | 2,698 | 2,551,765 | ||||||||||
Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.93%, 08/02/28 | 2,736 | 2,703,923 | ||||||||||
Axalta Coating Systems U.S. Holdings, Inc., 2023 USD Term Loan B4, (3-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.90%, 12/20/29 | 1,349 | 1,349,642 | ||||||||||
Azalea Topco, Inc., Term Loan, (1-mo. CME Term SOFR + 3.50%), 9.18%, 07/24/26 | 960 | 922,224 | ||||||||||
Castlelake Aviation Ltd., Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.42%, 10/22/26 | 1,586 | 1,582,433 | ||||||||||
Castlelake Aviation One DAC, 2023 Incremental Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.42%, 10/22/27 | 715 | 712,813 | ||||||||||
Focus Financial Partners LLC | ||||||||||||
2021 Term Loan B4, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.82%, 06/30/28 | 1,459 | 1,453,267 | ||||||||||
2023 Term Loan B6, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.82%, 06/30/28 | 788 | 786,314 | ||||||||||
ION Trading Finance Ltd., 2021 USD Term Loan, (3-mo. CME Term SOFR + 4.75%), 10.24%, 04/03/28 | 669 | 658,300 | ||||||||||
Learning Care Group U.S. No. 2, Inc., 2023 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.75%), 10.13%, 08/11/28 | 221 | 220,631 | ||||||||||
Osaic Holdings, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR + 4.50%), 9.82%, 08/17/28 | 1,396 | 1,393,675 | ||||||||||
Press Ganey Holdings, Inc., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.43%, 07/24/26 | 1,680 | 1,617,384 | ||||||||||
|
| |||||||||||
15,952,371 | ||||||||||||
Chemicals — 5.4% | ||||||||||||
Aruba Investments Holdings LLC | ||||||||||||
2020 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 7.75%), 13.17%, 11/24/28 | 1,440 | 1,339,200 | ||||||||||
2020 USD Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.42%, 11/24/27 | 760 | 743,461 | ||||||||||
Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.75%), 10.32%, 08/27/26 | 1,511 | 1,475,629 | ||||||||||
Chemours Co., 2023 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 8.82%, 08/18/28(d) | 1,154 | 1,139,575 | ||||||||||
CPC Acquisition Corp., Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.40%, 12/29/27 | 644 | 530,306 | ||||||||||
Discovery Purchaser Corp., Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.38%), 9.77%, 10/04/29 | 950 | 913,875 |
Security | Par (000) | Value | ||||||||||
Chemicals (continued) | ||||||||||||
Element Solutions, Inc., 2019 Term Loan B1, (1-mo. CME Term SOFR + 2.00%), 7.32%, 01/31/26 | USD | 1,967 | $ | 1,962,123 | ||||||||
HB Fuller Co., 2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.57%, 02/15/30 | 292 | 291,847 | ||||||||||
Herens U.S. Holdco Corp., USD Term Loan B, (3-mo. CME Term SOFR + 3.93%), 9.42%, 07/03/28 | 1,066 | 941,799 | ||||||||||
Illuminate Buyer LLC, 2021 Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.93%, 06/30/27 | 234 | 232,979 | ||||||||||
INEOS U.S. Finance LLC, 2023 USD Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.92%, 02/18/30 | 676 | 670,387 | ||||||||||
LSF11 A5 Holdco LLC | ||||||||||||
2023 Incremental Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.67%, 10/15/28 | 291 | 286,901 | ||||||||||
Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.81%, 10/15/28 | 1,810 | 1,765,414 | ||||||||||
Messer Industries GmbH, 2018 USD Term Loan, (3-mo. CME Term SOFR + 2.50%), 8.15%, 03/02/26 | 2,074 | 2,071,741 | ||||||||||
Momentive Performance Materials Inc., 2023 Term Loan, (1-mo. CME Term SOFR + 4.50%), 9.82%, 03/29/28 | 2,034 | 1,974,455 | ||||||||||
Nouryon USA LLC, 2023 USD Term Loan B, (1-mo. CME Term SOFR + 4.00%), 9.43%, 04/03/28 | 917 | 903,796 | ||||||||||
Olympus Water U.S. Holding Corp., | ||||||||||||
2023 Incremental Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 5.00%), 10.39%, 11/09/28 | 677 | 674,319 | ||||||||||
OQ Chemicals Corp., 2017 USD Term Loan B2, (1-mo. CME Term SOFR + 3.60%), 8.93%, 10/14/24 | 1,704 | 1,689,116 | ||||||||||
PQ Corp., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.97%, 06/09/28 | 1,717 | 1,708,989 | ||||||||||
SCIH Salt Holdings, Inc., 2021 Incremental Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.63%, 03/16/27 | 1,044 | 1,036,836 | ||||||||||
Sparta U.S. HoldCo LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.69%, 08/02/28 | 1,632 | 1,623,936 | ||||||||||
Starfruit Finco BV, 2018 USD Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.43%, 10/01/25 | 94 | 93,879 | ||||||||||
W.R. Grace Holdings LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.40%, 09/22/28 | 924 | 914,693 | ||||||||||
|
| |||||||||||
24,985,256 | ||||||||||||
Commercial Services & Supplies — 4.4% | ||||||||||||
Allied Universal Holdco LLC | ||||||||||||
2021 USD Incremental Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.17%, 05/12/28 | 2,603 | 2,510,090 | ||||||||||
2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.75%), 10.07%, 05/12/28 | 335 | 329,556 | ||||||||||
Amentum Government Services Holdings LLC, 2022 Term Loan, (1-mo. CME Term SOFR + 4.00%), 9.33%, 02/15/29 | 781 | 768,912 | ||||||||||
Aramark Services, Inc., 2023 Term Loan B6, (1-mo. CME Term SOFR + 2.50%), 7.93%, 06/22/30 | 759 | 757,126 | ||||||||||
Asplundh Tree Expert LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 1.75%), 7.17%, 09/07/27 | 1,952 | 1,949,076 |
3
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Commercial Services & Supplies (continued) | ||||||||||||
Clean Harbors, Inc., 2021 Incremental Term Loan B, (1-mo. CME Term SOFR + 2.00%), 7.43%, 10/08/28 | USD | 692 | $ | 693,672 | ||||||||
Covanta Holding Corp. | ||||||||||||
2021 Term Loan C, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.82%, 11/30/28 | 86 | 85,053 | ||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.82%, 11/30/28 | 1,126 | 1,118,430 | ||||||||||
GFL Environmental, Inc., 2023 First Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.82%, 05/31/27 | 728 | 727,020 | ||||||||||
LABL, Inc., 2021 USD 1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 5.00%), 10.42%, 10/29/28 | 1,593 | 1,586,071 | ||||||||||
PECF USS Intermediate Holding III Corp., Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.88%, 12/15/28 | 800 | 638,914 | ||||||||||
Prime Security Services Borrower LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 2.75%), 8.19%, 09/23/26 | 1,913 | 1,909,573 | ||||||||||
Tempo Acquisition LLC, 2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.32%, 08/31/28 | 4,767 | 4,767,414 | ||||||||||
TruGreen LP, 2020 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.42%, 11/02/27 | 1,639 | 1,554,574 | ||||||||||
Viad Corp., Initial Term Loan, (1-mo. CEM Term SOFR + 5.00%) , 10.43%, 07/30/28 | 1,195 | 1,169,194 | ||||||||||
|
| |||||||||||
20,564,675 | ||||||||||||
Communications Equipment — 0.4% | ||||||||||||
Ciena Corp., 2023 Term Loan B, (1-mo. CME Term SOFR + 2.50%), 7.82%, 01/18/30 | 212 | 212,111 | ||||||||||
Viasat, Inc. | ||||||||||||
2023 Term Loan, 05/30/30(h) | 846 | 783,083 | ||||||||||
Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.82%, 03/02/29 | 1,141 | 1,056,802 | ||||||||||
|
| |||||||||||
2,051,996 | ||||||||||||
Construction & Engineering — 1.3% | ||||||||||||
Brand Industrial Services, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 5.50%), 10.87%, 08/01/30 | 3,346 | 3,255,022 | ||||||||||
Legence Holdings LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.17%, 12/16/27 | 222 | 221,321 | ||||||||||
Pike Corp., 2021 Incremental Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.43%, 01/21/28 | 1,045 | 1,042,532 | ||||||||||
USIC Holdings, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.50%), 8.93%, 05/12/28 | 1,738 | 1,707,670 | ||||||||||
|
| |||||||||||
6,226,545 | ||||||||||||
Construction Materials — 1.1% | ||||||||||||
American Builders & Contractors Supply Co., Inc., Series A, 2019 Term Loan, (1-mo. CME Term SOFR + 2.00%), 7.42%, 01/15/27 | 1,185 | 1,182,275 | ||||||||||
New AMI I LLC, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.31%, 03/08/29 | 840 | 680,235 |
Security | Par (000) | Value | ||||||||||
Construction Materials (continued) | ||||||||||||
Oscar AcquisitionCo. LLC, Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.99%, 04/29/29 | USD | 1,097 | $ | 1,087,717 | ||||||||
Quikrete Holdings, Inc., 2023 Term Loan B, 03/19/29(h) | 623 | 623,062 | ||||||||||
Standard Industries, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.94%, 09/22/28 | 1,592 | 1,590,523 | ||||||||||
|
| |||||||||||
5,163,812 | ||||||||||||
Consumer Staples Distribution & Retail — 0.3% | ||||||||||||
U.S. Foods, Inc. | ||||||||||||
2019 Term Loan B, (1-mo. CME Term SOFR + 2.00%), 7.43%, 09/13/26 | 638 | 637,882 | ||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR + 2.50%), 7.93%, 11/22/28 | 891 | 891,515 | ||||||||||
|
| |||||||||||
1,529,397 | ||||||||||||
Containers & Packaging — 2.0% | ||||||||||||
Charter Next Generation, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.18%, 12/01/27 | 3,754 | 3,716,592 | ||||||||||
Mauser Packaging Solutions Holding Co., Term Loan B, (1-mo. CME Term SOFR + 4.00%), 9.33%, 08/14/26 | 1,259 | 1,257,272 | ||||||||||
Pregis TopCo Corp. | ||||||||||||
1st Lien Term Loan, (1-mo. CME Term SOFR + 3.75%), 9.07%, 07/31/26 | 611 | 608,956 | ||||||||||
2021 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.18%, 07/31/26 | 695 | 692,509 | ||||||||||
Reynolds Consumer Products LLC, Term Loan, (1-mo. CME Term SOFR + 1.75%), 7.17%, 02/04/27 . | 1,412 | 1,409,508 | ||||||||||
Reynolds Group Holdings, Inc., 2020 Term Loan B2, (1-mo. CME Term SOFR + 3.25%), 8.68%, 02/05/26 | 233 | 232,678 | ||||||||||
Trident TPI Holdings, Inc., 2021 Term Loan B3, (3-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.65%, 09/15/28 | 1,279 | 1,272,433 | ||||||||||
|
| |||||||||||
9,189,948 | ||||||||||||
Distributors — 0.2% | ||||||||||||
PAI Holdco, Inc., 2020 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.38%, 10/28/27 | 1,013 | 957,087 | ||||||||||
|
| |||||||||||
Diversified Consumer Services — 3.0% | ||||||||||||
2U, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 6.50%), 11.95%, 12/28/26 | 949 | 876,952 | ||||||||||
Ascend Learning LLC | ||||||||||||
2021 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 5.75%), 11.17%, 12/10/29 | 669 | 568,496 | ||||||||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.92%, 12/11/28 | 957 | 911,477 | ||||||||||
Bright Horizons Family Solutions LLC, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.68%, 11/24/28 | 921 | 916,285 | ||||||||||
KUEHG Corp., 2023 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 5.00%), 10.39%, 06/12/30 | 1,408 | 1,408,662 |
S C H E D U L E O F I N V E S T M E N T S | 4 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Diversified Consumer Services (continued) | ||||||||||||
Sotheby’s | ||||||||||||
Series L, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 10.07%, 01/15/27 | USD | 1,766 | $ | 1,719,853 | ||||||||
Series L, 2023 Incremental Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 10.07%, 01/15/27 | 395 | 383,973 | ||||||||||
Spring Education Group, Inc., Term Loan, 09/29/30(h) | 1,262 | 1,246,213 | ||||||||||
SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (1-mo. CME Term SOFR + 4.00%), 9.43%, 07/30/25 | 223 | 222,660 | ||||||||||
Veritas U.S., Inc., 2021 USD Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 5.00%), 10.43%, 09/01/25 | 2,328 | 2,010,475 | ||||||||||
Wand NewCo 3, Inc., 2020 Term Loan, (1-mo. CME Term SOFR + 2.75%), 8.17%, 02/05/26 | 2,552 | 2,545,654 | ||||||||||
WCG Purchaser Corp., 2019 Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 4.00%), 9.43%, 01/08/27 | 1,222 | 1,207,048 | ||||||||||
|
| |||||||||||
14,017,748 | ||||||||||||
Diversified REITs — 0.2% | ||||||||||||
RHP Hotel Properties, LP, 2023 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 8.07%, 05/18/30 | 827 | 828,085 | ||||||||||
|
| |||||||||||
Diversified Telecommunication Services — 6.0% | ||||||||||||
Altice Financing SA | ||||||||||||
2017 USD Term Loan B, (3-mo. LIBOR US + 2.75%), 8.32%, 07/15/25 | 1,076 | 1,063,382 | ||||||||||
USD 2017 1st Lien Term Loan, (3-mo. LIBOR US + 2.75%), 8.32%, 01/31/26 | 1,543 | 1,527,322 | ||||||||||
Altice France SA, 2023 USD Term Loan B14, (3-mo. CME Term SOFR + 5.50%), 10.81%, 08/15/28 | 1,900 | 1,715,600 | ||||||||||
Cablevision Lightpath LLC, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.70%, 11/30/27 | 232 | 228,468 | ||||||||||
Connect Finco SARL, 2021 Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 3.50%), 8.82%, 12/11/26 | 6,606 | 6,462,324 | ||||||||||
Consolidated Communications, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.50%), 8.93%, 10/02/27 | 808 | 713,663 | ||||||||||
Iridium Satellite LLC, 2023 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 2.50%), 7.90%, 09/20/30 | 2,576 | 2,570,225 | ||||||||||
Level 3 Financing, Inc., 2019 Term Loan B, (1-mo. CME Term SOFR + 1.75%), 7.18%, 03/01/27 | 1,941 | 1,830,180 | ||||||||||
Lumen Technologies, Inc., 2020 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.68%, 03/15/27 | 1,784 | 1,267,295 | ||||||||||
ORBCOMM, Inc., Term Loan B, (1-mo. LIBOR US at 0.75% Floor + 4.25%), 9.80%, 09/01/28 | 865 | 771,827 | ||||||||||
Radiate Holdco LLC, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.68%, 09/25/26 | 2,541 | 2,072,398 |
Security | Par (000) | Value | ||||||||||
Diversified Telecommunication Services (continued) | ||||||||||||
Virgin Media Bristol LLC | ||||||||||||
2020 USD Term Loan Q, (1-mo. CME Term SOFR + 3.25%), 8.70%, 01/31/29 | USD | 1,335 | $ | 1,300,704 | ||||||||
USD Term Loan N, (1-mo. CME Term SOFR + 2.50%), 7.95%, 01/31/28 | 988 | 958,697 | ||||||||||
Virgin Media SFA Finance Ltd., GBP Term Loan L, (1-mo. SONIA + 3.25%), 8.47%, 01/15/27 | GBP | 1,000 | 1,200,273 | |||||||||
Zayo Group Holdings, Inc., USD Term Loan, (1-mo. CME Term SOFR + 3.00%), 8.43%, 03/09/27 | USD | 5,045 | 4,108,159 | |||||||||
|
| |||||||||||
27,790,517 | ||||||||||||
Electrical Equipment — 0.3% | ||||||||||||
Arcline FM Holdings LLC, 2021 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 4.75%), 10.40%, 06/23/28 | 1,517 | 1,505,025 | ||||||||||
|
| |||||||||||
Electronic Equipment, Instruments & Components — 0.3% | ||||||||||||
Coherent Corp., 2022 Term Loan B, (1-mo. CEM Term SOFR + 2.75%) , 8.18%, 07/02/29 | 1,587 | 1,580,033 | ||||||||||
|
| |||||||||||
Energy Equipment & Services — 0.1% | ||||||||||||
Lealand Finance Co. BV | ||||||||||||
2020 Make Whole Term Loan, (1-mo. CME Term SOFR + 3.00%), 8.43%, 06/28/24(d) | 40 | 28,170 | ||||||||||
2020 Take Back Term Loan, (1-mo. CME Term SOFR + 4.00%, 3.00% PIK), 12.43%, 06/30/25(g) | 307 | 163,937 | ||||||||||
|
| |||||||||||
192,107 | ||||||||||||
Entertainment — 4.7% | ||||||||||||
AMC Entertainment Holdings, Inc., 2019 Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.45%, 04/22/26 | 1,495 | 1,201,956 | ||||||||||
Aristocrat Technologies, Inc., 2022 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.74%, 05/24/29 | 101 | 101,021 | ||||||||||
Cirque Du Soleil Holding USA Newco, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.64%, 03/08/30 | 903 | 896,265 | ||||||||||
City Football Group Ltd., Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.44%, 07/21/28 | 1,571 | 1,561,199 | ||||||||||
Creative Artists Agency LLC, 2023 Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.82%, 11/27/28 | 2,084 | 2,074,136 | ||||||||||
Delta 2 Lux SARL, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.32%, 01/15/30 | 1,742 | 1,740,258 | ||||||||||
Equinox Holdings, Inc., 2017 1st Lien Term Loan, (6-mo. LIBOR US at 1.00% Floor + 3.00%), 8.73%, 03/08/24 | 3,841 | 3,709,726 | ||||||||||
Live Nation Entertainment, Inc., Term Loan B4, (1- mo. CME Term SOFR + 1.75%), 7.17%, 10/19/26 .. | 2,511 | 2,503,999 | ||||||||||
Playtika Holding Corp., 2021 Term Loan, (1-mo. CME Term SOFR + 2.75%), 8.18%, 03/13/28 | 1,492 | 1,489,405 | ||||||||||
SMG U.S. Midco 2, Inc., 2020 Term Loan, (3-mo. CME Term SOFR + 2.50%), 8.13%, 01/23/25 | 415 | 414,685 |
5
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Entertainment (continued) | ||||||||||||
UFC Holdings LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 2.75%), 8.37%, 04/29/26 | USD | 894 | $ | 892,130 | ||||||||
William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (1-mo. CME Term SOFR + 2.75%), 8.18%, 05/18/25 | 2,662 | 2,654,971 | ||||||||||
WMG Acquisition Corp., 2021 Term Loan G, (1-mo. CME Term SOFR + 2.13%), 7.56%, 01/20/28 | 2,700 | 2,697,477 | ||||||||||
|
| |||||||||||
21,937,228 | �� | |||||||||||
Financial Services — 4.9% | ||||||||||||
ABG Intermediate Holdings 2 LLC, 2021 Term Loan B1, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.92%, 12/21/28 | 1,278 | 1,274,791 | ||||||||||
Belron Finance U.S. LLC | ||||||||||||
2018 Term Loan B, (3-mo. CME Term SOFR + 2.25%), 7.88%, 11/13/25 | 431 | 431,616 | ||||||||||
2019 USD Term Loan B3, (3-mo. CME Term SOFR + 2.25%), 7.88%, 10/30/26 | 860 | 857,725 | ||||||||||
2021 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.43%), 8.06%, 04/13/28 | 2,974 | 2,963,305 | ||||||||||
Belron Luxembourg SARL, 2023 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.16%, 04/18/29 | 470 | 469,677 | ||||||||||
Deerfield Dakota Holding LLC | ||||||||||||
2020 USD Term Loan B, (3-mo. CME Term SOFR at 1.00% Floor + 3.75%), 9.14%, 04/09/27 | 6,131 | 5,971,366 | ||||||||||
2021 USD 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 6.75%), 12.40%, 04/07/28 | 1,806 | 1,697,640 | ||||||||||
FinCo I LLC, 2023 Term Loan, (3-mo. CME Term SOFR + 3.00%), 8.37%, 06/27/29 | 613 | 612,471 | ||||||||||
GIP Pilot Acquisition Partners LP, Term Loan, 09/18/30(d)(h) | 301 | 299,871 | ||||||||||
LBM Acquisition LLC, Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.18%, 12/17/27 | 505 | 492,212 | ||||||||||
Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.67%, 03/24/25 | 1,301 | 1,297,679 | ||||||||||
Sotera Health Holdings LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.18%, 12/11/26 | 2,539 | 2,512,975 | ||||||||||
Travelport Finance SARL, 2023 Consented Term Loan, (3-mo. CME Term SOFR + 8.50%), 13.89%, 05/29/26 | 1,476 | 846,527 | ||||||||||
UPC Financing Partnership, 2021 USD Term Loan AX, (1-mo. CME Term SOFR + 2.93%), 8.37%, 01/31/29 | 768 | 755,231 | ||||||||||
WEX, Inc., 2021 Term Loan, (1-mo. CME Term SOFR + 2.25%), 7.68%, 03/31/28 | 965 | 965,916 | ||||||||||
White Cap Buyer LLC, Term Loan B, (1-mo. CME Term SOFR + 3.75%), 9.07%, 10/19/27 | 1,220 | 1,216,420 | ||||||||||
|
| |||||||||||
22,665,422 | ||||||||||||
Food Products — 3.4% | ||||||||||||
8th Avenue Food & Provisions, Inc. | ||||||||||||
2018 1st Lien Term Loan, (1-mo. CME Term SOFR + 3.75%), 9.18%, 10/01/25 | 1,180 | 1,132,389 |
Security | Par (000) | Value | ||||||||||
Food Products (continued) | ||||||||||||
8th Avenue Food & Provisions, Inc. (continued) |
| |||||||||||
2021 Incremental Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 4.75%), 10.18%, 10/01/25 | USD | 1,512 | $ | 1,450,577 | ||||||||
Chobani LLC, 2020 Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 3.50%), 8.93%, 10/25/27 | 3,204 | 3,201,102 | ||||||||||
Froneri International Ltd., 2020 USD Term Loan, (1-mo. CME Term SOFR + 2.25%), 7.67%, 01/29/27 | 3,524 | 3,494,233 | ||||||||||
H-Food Holdings LLC, 2018 Term Loan B, (3-mo. LIBOR US + 3.69%), 9.27%, 05/23/25 | 496 | 431,033 | ||||||||||
Hostess Brands, LLC, 2023 Term Loan B, (3-mo. CME Term SOFR + 2.50%), 7.89%, 06/28/30 | 1,016 | 1,017,457 | ||||||||||
Nomad Foods U.S. LLC, Term Loan B4, (6-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.47%, 11/12/29 | 1,012 | 1,011,521 | ||||||||||
Sovos Brands Intermediate, Inc., 2021 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.50%), 9.13%, 06/08/28 | 2,013 | 2,010,705 | ||||||||||
Triton Water Holdings, Inc., Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.90%, 03/31/28 | 1,294 | 1,259,139 | ||||||||||
UTZ Quality Foods LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.43%, 01/20/28 | 678 | 677,108 | ||||||||||
|
| |||||||||||
15,685,264 | ||||||||||||
Ground Transportation — 0.8% | ||||||||||||
AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 4.75%), 10.18%, 04/06/28 | 574 | 569,255 | ||||||||||
Avis Budget Car Rental LLC, 2020 Term Loan B, (1-mo. CME Term SOFR + 1.75%), 7.18%, 08/06/27 | 654 | 648,817 | ||||||||||
SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (3-mo. LIBOR US + 5.50%), 10.86%, 08/04/25 | 1,160 | 1,037,657 | ||||||||||
Uber Technologies, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR + 2.75%), 8.16%, 03/03/30 | 1,600 | 1,598,454 | ||||||||||
|
| |||||||||||
3,854,183 | ||||||||||||
Health Care Equipment & Supplies — 2.4% | ||||||||||||
Bausch & Lomb Corp., 2023 Incremental Term Loan, 09/14/28(d)(h) | 944 | 931,020 | ||||||||||
Bausch and Lomb, Inc., Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.76%, 05/10/27 | 2,026 | 1,966,144 | ||||||||||
Chariot Buyer LLC, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.66%, 11/03/28 | 2,439 | 2,398,548 | ||||||||||
Femur Buyer, Inc., 1st Lien Term Loan, (3-mo. CME Term SOFR + 4.50%), 10.15%, 03/05/26 | 684 | 635,131 | ||||||||||
Insulet Corp., Term Loan B, (1-mo. CME Term SOFR + 3.25%), 8.68%, 05/04/28 | 759 | 757,938 | ||||||||||
Medline Borrower LP, USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.68%, 10/23/28 | 4,315 | 4,300,365 | ||||||||||
|
| |||||||||||
10,989,146 | ||||||||||||
Health Care Providers & Services — 2.7% | ||||||||||||
CHG Healthcare Services, Inc. | ||||||||||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.68%, 09/29/28 | 1,015 | 1,009,858 | ||||||||||
2023 Incremental Term Loan, 09/29/28(h) | 215 | 214,463 |
S C H E D U L E O F I N V E S T M E N T S | 6 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Health Care Providers & Services (continued) | ||||||||||||
CNT Holdings I Corp., 2020 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.50%), 8.80%, 11/08/27 | USD | 1,823 | $ | 1,815,620 | ||||||||
Electron BidCo, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.43%, 11/01/28 | 2,174 | 2,163,253 | ||||||||||
Envision Healthcare Corp., 2022 Second Out Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + 4.25%), 9.64%, 03/31/27 | 1,170 | 263,302 | ||||||||||
EyeCare Partners LLC | ||||||||||||
2020 Term Loan, (1-mo. CME Term SOFR + 3.75%), 9.18%, 02/18/27 | 1,656 | 1,155,820 | ||||||||||
2021 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 6.75%), 12.18%, 11/15/29 | 581 | 302,640 | ||||||||||
2021 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.18%, 11/15/28 | 531 | 364,633 | ||||||||||
Ingenovis Health, Inc., Term Loan B, (1-mo. CME Term SOFR + 3.75%), 9.18%, 03/06/28 | 1,608 | 1,531,482 | ||||||||||
MED ParentCo LP, 1st Lien Term Loan, (1-mo. CME Term SOFR + 4.25%), 9.68%, 08/31/26 | 628 | 598,322 | ||||||||||
Medical Solutions Holdings, Inc., 2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 7.00%), 12.52%, 11/01/29 | 611 | 545,317 | ||||||||||
Option Care Health, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.18%, 10/27/28 | 695 | 696,962 | ||||||||||
PetVet Care Centers LLC, 2021 Term Loan B3, (1-mo. CME Term SOFR at 0.75% Floor + 3.50%), 8.92%, 02/14/25 | 51 | 51,241 | ||||||||||
Reverb Buyer, Inc., 2021 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.77%, 11/01/28 | 905 | 873,745 | ||||||||||
Surgery Center Holdings, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.19%, 08/31/26 | 825 | 825,281 | ||||||||||
Vizient, Inc., 2022 Term Loan B7, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.67%, 05/16/29 | 334 | 333,672 | ||||||||||
|
| |||||||||||
12,745,611 | ||||||||||||
Health Care Technology — 2.9% | ||||||||||||
AthenaHealth Group, Inc., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.57%, 02/15/29 | 2,976 | 2,915,936 | ||||||||||
Polaris Newco LLC, USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.43%, 06/02/28 | 4,521 | 4,322,099 | ||||||||||
Verscend Holding Corp. | ||||||||||||
2021 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 7.00%), 12.43%, 04/02/29 | 3,092 | 3,088,135 | ||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR + 4.00%), 9.43%, 08/27/25 | 3,093 | 3,089,620 | ||||||||||
|
| |||||||||||
13,415,790 | ||||||||||||
Hotels, Restaurants & Leisure — 6.2% | ||||||||||||
Alterra Mountain Co., 2023 Term Loan B, (1-mo. CME Term SOFR + 3.75%), 9.07%, 05/31/30 | 155 | 154,613 |
Security | Par (000) | Value | ||||||||||
Hotels, Restaurants & Leisure (continued) | ||||||||||||
Bally’s Corp., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.84%, 10/02/28 | USD | 892 | $ | 872,791 | ||||||||
Burger King (Restaurant Brands International, Inc.)/New Red Finance, Inc., 2023 Term Loan B5, (1-mo. CME Term SOFR + 2.25%), 7.57%, 09/23/30 | 2,417 | 2,407,034 | ||||||||||
Caesars Entertainment, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.67%, 02/06/30 | 1,241 | 1,239,996 | ||||||||||
Carnival Corp., 2023 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.33%, 08/08/27 | 977 | 973,884 | ||||||||||
Churchill Downs, Inc., 2021 Incremental Term Loan B1, (1-mo. CME Term SOFR + 2.00%), 7.42%, 03/17/28 | 1,459 | 1,456,051 | ||||||||||
ECL Entertainment, LLC, 2023 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.75%), 10.14%, 08/31/30 | 804 | 801,652 | ||||||||||
Fertitta Entertainment LLC, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.32%, 01/27/29 | 4,093 | 4,046,651 | ||||||||||
Flutter Financing BV, 2022 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.90%, 07/22/28 | 1,173 | 1,173,737 | ||||||||||
Four Seasons Hotels Ltd., 2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.92%, 11/30/29 | 3,042 | 3,044,672 | ||||||||||
IRB Holding Corp., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.42%, 12/15/27 | 2,385 | 2,373,718 | ||||||||||
Packers Holdings LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.67%, 03/09/28 | 903 | 532,673 | ||||||||||
PENN Entertainment, Inc., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.17%, 05/03/29 | 1,472 | 1,468,467 | ||||||||||
Playa Resorts Holding BV, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.58%, 01/05/29 | 475 | 475,246 | ||||||||||
Scientific Games International, Inc., 2022 USD Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.43%, 04/14/29 | 1,087 | 1,085,709 | ||||||||||
SeaWorld Parks & Entertainment, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.43%, 08/25/28 | 685 | 682,336 | ||||||||||
Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3-mo. CME Term SOFR + 2.25%), 7.90%, 07/21/26 | 1,101 | 1,100,042 | ||||||||||
Station Casinos LLC, 2020 Term Loan B, (1-mo. CME Term SOFR at 0.25% Floor + 2.25%), 7.67%, 02/08/27 | 2,033 | 2,027,440 | ||||||||||
Whatabrands LLC, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.43%, 08/03/28 | 2,245 | 2,234,034 | ||||||||||
Wyndham Hotels & Resorts, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.67%, 05/24/30 | 533 | 532,632 | ||||||||||
|
| |||||||||||
28,683,378 |
7
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Household Durables — 1.4% | ||||||||||||
ACProducts Holdings, Inc., 2021 Term Loan B, (3- mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.90%, 05/17/28 | USD | 1,632 | $ | 1,341,886 | ||||||||
Hunter Douglas, Inc., USD Term Loan B1, (3-mo. CME Term SOFR + 3.50%), 8.89%, 02/26/29 | 2,390 | 2,323,819 | ||||||||||
Serta Simmons Bedding, LLC, 2023 New Term Loan, (3-mo. CME Term SOFR + 7.50%), 12.90%, 06/29/28 | 464 | 461,854 | ||||||||||
Sunset Debt Merger Sub, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.43%, 10/06/28 | 818 | 694,388 | ||||||||||
Weber-Stephen Products LLC, Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.68%, 10/30/27 | 2,012 | 1,807,463 | ||||||||||
|
| |||||||||||
6,629,410 | ||||||||||||
Household Products — 0.1% | ||||||||||||
Kronos Acquisition Holdings, Inc., 2021 1st Lien Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + 6.00%), 11.57%, 12/22/26 | 404 | 403,557 | ||||||||||
|
| |||||||||||
Independent Power and Renewable Electricity Producers — 1.0% | ||||||||||||
Calpine Construction Finance Co. LP, 2023 Refinancing Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.57%, 07/31/30 | 1,231 | 1,223,519 | ||||||||||
Calpine Corp. | ||||||||||||
2019 Term Loan B10, (1-mo. CME Term SOFR + 2.00%), 7.43%, 08/12/26 | 697 | 696,494 | ||||||||||
Term Loan B9, (1-mo. CME Term SOFR + 2.00%), 7.43%, 04/05/26 | 1,492 | 1,490,042 | ||||||||||
Constellation Renewables LLC, 2020 Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + 2.50%), 8.18%, 12/15/27 | 1,184 | 1,179,344 | ||||||||||
|
| |||||||||||
4,589,399 | ||||||||||||
Industrial Conglomerates — 0.2% | ||||||||||||
Stitch Aquisition Corp., Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 6.75%), 12.40%, 07/28/28 | 1,078 | 821,080 | ||||||||||
|
| |||||||||||
Insurance — 5.5% | ||||||||||||
Alliant Holdings Intermediate LLC | ||||||||||||
2021 Term Loan B4, (1-mo. LIBOR US at 0.50% Floor + 3.50%), 8.93%, 11/05/27 | 3,759 | 3,749,327 | ||||||||||
2023 Term Loan B5, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.83%, 11/05/27 | 3,866 | 3,857,410 | ||||||||||
AmWINS Group, Inc. | ||||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 2.25%), 7.68%, 02/19/28 | 2,568 | 2,549,920 | ||||||||||
2023 Incremental Term Loan B, (1-mo. CEM Term SOFR + 2.75%) , 8.18%, 02/19/28 | 493 | 492,350 | ||||||||||
AssuredPartners, Inc. | ||||||||||||
2020 Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.93%, 02/12/27 | 1,393 | 1,389,249 | ||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.93%, 02/12/27 | 873 | 872,195 | ||||||||||
2023 Term Loan B4, 02/12/27(h) | 434 | 433,731 | ||||||||||
Baldwin Risk Partners, LLC, 2021 Term Loan B, (1- mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.94%, 10/14/27 | 437 | 432,243 |
Security | Par (000) | Value | ||||||||||
Insurance (continued) | ||||||||||||
HUB International Ltd. | ||||||||||||
2022 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.37%, 11/10/29 | USD | 464 | $ | 463,813 | ||||||||
2023 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.25%), 9.58%, 06/20/30 | 4,591 | 4,599,015 | ||||||||||
Jones Deslauriers Insurance Management, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR + 4.25%), 9.62%, 03/15/30 | 1,137 | 1,139,137 | ||||||||||
Ryan Specialty Group LLC, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.42%, 09/01/27 | 1,349 | 1,347,568 | ||||||||||
USI, Inc. | ||||||||||||
2022 Incremental Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.14%, 11/22/29 | 3,211 | 3,206,170 | ||||||||||
2023 Acquisition Term Loan, 09/27/30(h) | 520 | 518,482 | ||||||||||
2023 Refi Term Loan, 09/27/30(h) | 595 | 593,019 | ||||||||||
|
| |||||||||||
25,643,629 | ||||||||||||
Interactive Media & Services — 1.6% | ||||||||||||
Acuris Finance U.S., Inc., 2021 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.54%, 02/16/28 | 428 | 421,944 | ||||||||||
Adevinta ASA, USD Term Loan B, (3-mo. CME Term SOFR + 2.75%), 8.32%, 06/26/28 | 985 | 983,834 | ||||||||||
Camelot Finance SA, Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.43%, 10/30/26 | 1,831 | 1,828,489 | ||||||||||
Camelot U.S. Acquisition LLC, 2020 Incremental Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 3.00%), 8.43%, 10/30/26 | 2,198 | 2,192,162 | ||||||||||
GoodRx, Inc., 1st Lien Term Loan, (1-mo. CME Term SOFR + 2.75%), 8.17%, 10/10/25 | 714 | 712,050 | ||||||||||
Grab Holdings, Inc., Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 4.50%), 9.93%, 01/29/26 | 1,038 | 1,042,168 | ||||||||||
|
| |||||||||||
7,180,647 | ||||||||||||
IT Services — 3.8% | ||||||||||||
Asurion LLC | ||||||||||||
2020 Term Loan B8, (3-mo. CME Term SOFR + 3.25%), 8.68%, 12/23/26 | 294 | 287,165 | ||||||||||
2021 2nd Lien Term Loan B3, (1-mo. CME Term SOFR + 5.25%), 10.68%, 01/31/28 | 1,117 | 1,002,875 | ||||||||||
2021 Second Lien Term Loan B4, (1-mo. CME Term SOFR + 5.25%), 10.68%, 01/20/29 | 1,066 | 942,834 | ||||||||||
2023 Term Loan B11, (1-mo. CME Term SOFR + 4.25%), 9.67%, 08/19/28 | 1,660 | 1,610,574 | ||||||||||
Epicor Software Corp., 2020 2nd Lien Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 7.75%), 13.17%, 07/31/28 | 2,141 | 2,143,334 | ||||||||||
Gainwell Acquisition Corp., Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.49%, 10/01/27 | 3,237 | 3,153,110 | ||||||||||
Go Daddy Operating Co. LLC | ||||||||||||
2021 Term Loan B4, (1-mo. CME Term SOFR + 2.00%), 7.43%, 08/10/27 | 727 | 725,473 | ||||||||||
2022 Term Loan B5, (1-mo. CME Term SOFR + 2.50%), 7.82%, 11/09/29 | 1,761 | 1,761,687 | ||||||||||
GTCR W Merger Sub LLC, USD Term Loan B, 09/20/30(h) | 1,617 | 1,615,820 |
S C H E D U L E O F I N V E S T M E N T S | 8 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
IT Services (continued) | ||||||||||||
Sedgwick Claims Management Services, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 3.75%), 9.07%, 02/24/28 | USD | 3,999 | $ | 3,988,195 | ||||||||
Venga Finance SARL, 2021 USD Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.75%), 10.43%, 06/28/29 | 644 | 637,822 | ||||||||||
|
| |||||||||||
17,868,889 | ||||||||||||
Leisure Products — 0.4% | ||||||||||||
Fender Musical Instruments Corp., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.42%, 12/01/28 | 485 | 473,273 | ||||||||||
Peloton Interactive, Inc., Term Loan, (6-mo. CME Term SOFR at 0.50% Floor + 6.50%), 12.26%, 05/25/27 | 342 | 341,333 | ||||||||||
Topgolf Callaway Brands Corp., Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.92%, 03/15/30 | 1,145 | 1,137,847 | ||||||||||
|
| |||||||||||
1,952,453 | ||||||||||||
Life Sciences Tools & Services — 2.6% | ||||||||||||
Avantor Funding, Inc., 2021 Term Loan B5, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.67%, 11/08/27 | 1,222 | 1,220,515 | ||||||||||
Catalent Pharma Solutions, Inc., 2021 Term Loan B3, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), 7.44%, 02/22/28 | 1,579 | 1,541,048 | ||||||||||
Curia Global, Inc., 2021 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.22%, 08/30/26 | 140 | 115,453 | ||||||||||
eResearchTechnology, Inc., 2020 1st Lien Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 4.50%), 9.93%, 02/04/27 | 1,056 | 1,035,014 | ||||||||||
Fortrea Holdings, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.07%, 07/01/30 | 421 | 419,190 | ||||||||||
ICON Luxembourg SARL, LUX Term Loan, (3-mo. CEM Term SOFR + 2.25%) , 7.90%, 07/03/28 | 2,112 | 2,110,770 | ||||||||||
Maravai Intermediate Holdings LLC, 2022 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.32%, 10/19/27 | 1,480 | 1,439,009 | ||||||||||
Parexel International Corp., 2021 1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.68%, 11/15/28 | 3,045 | 3,020,785 | ||||||||||
PRA Health Sciences, Inc., US Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.90%, 07/03/28 | 526 | 525,901 | ||||||||||
Star Parent, Inc., 2023 Term Loan B, 09/19/30(h) | 697 | 680,641 | ||||||||||
|
| |||||||||||
12,108,326 | ||||||||||||
Machinery — 5.7% | ||||||||||||
Albion Financing 3 SARL, USD Term Loan, (3-mo. CME Term SOFR + 5.25%), 10.86%, 08/17/26 | 1,961 | 1,959,640 | ||||||||||
Barnes Group, Inc., Term Loan B, (3-mo. CME Term SOFR + 3.00%), 8.42%, 09/03/30 | 444 | 444,222 | ||||||||||
Clark Equipment Co., 2022 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.99%, 04/20/29 | 264 | 264,294 | ||||||||||
Columbus McKinnon Corp., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.42%, 05/14/28 | 362 | 361,981 |
Security | Par (000) | Value | ||||||||||
Machinery (continued) | ||||||||||||
Filtration Group Corp. | ||||||||||||
2021 Incremental Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.93%, 10/21/28 | USD | 1,164 | $ | 1,158,663 | ||||||||
2023 USD Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.68%, 10/21/28 | 2,359 | 2,360,319 | ||||||||||
Gardner Denver, Inc., 2020 USD Term Loan B2, 03/01/27(h) | 357 | 356,958 | ||||||||||
Gates Global LLC, 2021 Term Loan B3, (1-mo. CME Term SOFR at 0.75% Floor + 2.50%), 7.82%, 03/31/27 | 2,400 | 2,391,956 | ||||||||||
Generac Power Systems, Inc., 2019 Term Loan B, 12/13/26(h) | 325 | 324,051 | ||||||||||
Ingersoll-Rand Services Co., 2020 USD Spinco Term Loan, (1-mo. CME Term SOFR + 1.75%), 7.17%, 03/01/27 | 532 | 531,926 | ||||||||||
Madison IAQ LLC, Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.69%, 06/21/28 | 3,682 | 3,616,981 | ||||||||||
Roper Industrial Products Investment Co., USD Term Loan, (3-mo. CME Term SOFR + 4.50%), 9.89%, 11/22/29 | 2,142 | 2,145,299 | ||||||||||
SPX Flow, Inc., 2022 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.92%, 04/05/29 | 1,940 | 1,933,692 | ||||||||||
Titan Acquisition Ltd., 2018 Term Loan B, (3-mo. LIBOR US + 3.00%), 8.65%, 03/28/25 | 3,844 | 3,808,296 | ||||||||||
Vertical U.S. Newco, Inc., Term Loan B, (6-mo. CME Term SOFR at 0.50% Floor + 3.50%), 9.38%, 07/30/27 | 2,254 | 2,247,068 | ||||||||||
Vertiv Group Corp., 2021 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 8.19%, 03/02/27 | 2,411 | 2,405,720 | ||||||||||
Zurn LLC, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), 7.43%, 10/04/28 | 125 | 124,725 | ||||||||||
|
| |||||||||||
26,435,791 | ||||||||||||
Media — 3.4% | ||||||||||||
A L Parent LLC, 2023 Take Back Term Loan, (1-mo. CME Term SOFR at 2.00% Floor + 5.50%), 10.83%, 06/30/28 | 482 | 466,143 | ||||||||||
AVSC Holding Corp., 2020 Term Loan B1, (1-mo. CME Term SOFR at 1.00% Floor + 3.25%), 8.57%, 03/03/25 | 998 | 958,560 | ||||||||||
Cable One, Inc., 2021 Term Loan B4, (1-mo. CME Term SOFR + 2.00%), 7.43%, 05/03/28 | 335 | 332,008 | ||||||||||
Charter Communications Operating LLC, Class A, 2019 Term Loan B1, (3-mo. CME Term SOFR + 1.75%), 7.12%, 04/30/25 | 2,585 | 2,585,072 | ||||||||||
Clear Channel Outdoor Holdings, Inc., Term Loan B, (1-mo. CME Term SOFR + 3.50%), 9.13%, 08/21/26 | 2,224 | 2,156,412 | ||||||||||
CMG Media Corp., 2021 Term Loan, (3-mo. CME Term SOFR + 3.50%), 8.99%, 12/17/26 | — | (i) | 283 | |||||||||
Cogeco Financing 2 LP, 2023 Term Loan B, 09/29/28(h) | 1,584 | 1,541,424 | ||||||||||
CSC Holdings LLC | ||||||||||||
2017 Term Loan B1, (1-mo. LIBOR US + 2.25%), 7.70%, 07/17/25 | 657 | 635,964 | ||||||||||
2019 Term Loan B5, (1-mo. CME Term SOFR + 2.50%), 7.95%, 04/15/27 | 1,557 | 1,406,624 | ||||||||||
DirecTV Financing LLC, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 5.00%), 10.43%, 08/02/27 | 2,192 | 2,139,919 |
9
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Media (continued) | ||||||||||||
Sinclair Television Group, Inc., 2022 Term Loan B4, (1-mo. CME Term SOFR + 3.75%), 9.17%, 04/21/29 | USD | 1,799 | $ | 1,246,863 | ||||||||
Voyage Digital Ltd., USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.63%, 05/11/29(d) | 955 | 952,887 | ||||||||||
Ziggo Financing Partnership, USD Term Loan I, (1-mo. CME Term SOFR + 2.50%), 7.95%, 04/30/28 | 1,617 | 1,577,917 | ||||||||||
|
| |||||||||||
16,000,076 | ||||||||||||
Oil, Gas & Consumable Fuels — 2.0% | ||||||||||||
Freeport LNG Investments LLLP, Term Loan B, (3-mo. CME Term SOFR + 3.50%), 9.09%, 12/21/28 . | 3,662 | 3,623,972 | ||||||||||
M6 ETX Holdings II Midco LLC, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.92%, 09/19/29 | 264 | 263,339 | ||||||||||
Medallion Midland Acquisition LLC, 2021 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.40%, 10/18/28 | 1,910 | 1,909,844 | ||||||||||
Murphy USA, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 1.75%), 7.19%, 01/31/28 | 634 | 635,190 | ||||||||||
Oryx Midstream Services Permian Basin LLC, 2023 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.69%, 10/05/28 | 3,069 | 3,064,338 | ||||||||||
|
| |||||||||||
9,496,683 | ||||||||||||
Passenger Airlines — 2.7% | ||||||||||||
AAdvantage Loyalty IP Ltd., Series AA, 2021 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 4.75%), 10.34%, 04/20/28 | 1,554 | 1,599,007 | ||||||||||
Air Canada, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 3.50%), 9.13%, 08/11/28 | 2,022 | 2,021,482 | ||||||||||
American Airlines, Inc. | ||||||||||||
Series AA, 2017 1st Lien Term Loan, (3-mo. CME Term SOFR + 1.75%), 7.32%, 01/29/27 | 273 | 268,415 | ||||||||||
Series AA, 2023 Term Loan B, (3-mo. CME Term SOFR + 2.75%), 8.54%, 02/15/28 | 2,391 | 2,371,293 | ||||||||||
Kestrel Bidco, Inc., Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 3.00%), 8.42%, 12/11/26 | 820 | 801,314 | ||||||||||
Mileage Plus Holdings LLC, 2020 Term Loan B, (3-mo. CME Term SOFR at 1.00% Floor + 5.25%), 10.80%, 06/21/27 | 2,419 | 2,509,991 | ||||||||||
United Airlines, Inc., Series AA, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.18%, 04/21/28 | 2,913 | 2,913,850 | ||||||||||
|
| |||||||||||
12,485,352 | ||||||||||||
Personal Care Products — 1.3% | ||||||||||||
Sunshine Luxembourg VII SARL, 2021 Term Loan B3, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.24%, 10/01/26 | 6,013 | 6,000,023 | ||||||||||
|
| |||||||||||
Pharmaceuticals — 2.2% | ||||||||||||
Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.93%, 05/04/25 | 1,204 | 1,180,028 | ||||||||||
Amynta Agency Borrower, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 5.00%), 10.42%, 02/28/28 | 853 | 851,558 | ||||||||||
Bausch Health Cos., Inc., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 5.25%), 10.67%, 02/01/27 | 1,094 | 887,094 |
Security | Par (000) | Value | ||||||||||
Pharmaceuticals (continued) | ||||||||||||
Elanco Animal Health, Inc., Term Loan B, (1-mo. CME Term SOFR + 1.75%), 7.18%, 08/01/27 | USD | 1,458 | $ | 1,428,394 | ||||||||
Jazz Financing Lux SARL, USD Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.93%, 05/05/28 | 2,169 | 2,166,599 | ||||||||||
Organon & Co., USD Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.44%, 06/02/28 | 1,404 | 1,400,094 | ||||||||||
Perrigo Investments LLC, Term Loan B, 04/20/29(h) | 933 | 928,265 | ||||||||||
Precision Medicine Group LLC, 2021 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.49%, 11/18/27(d) | 1,224 | 1,207,664 | ||||||||||
Prestige Brands, Inc., 2021 Term Loan B5, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), 7.43%, 07/03/28 | 128 | 128,235 | ||||||||||
|
| |||||||||||
10,177,931 | ||||||||||||
Professional Services — 4.5% | ||||||||||||
AlixPartners LLP, 2021 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.18%, 02/04/28 | 1,983 | 1,979,594 | ||||||||||
ASGN, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.57%, 08/30/30 | 398 | 398,995 | ||||||||||
CoreLogic, Inc. | ||||||||||||
2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 6.50%), 11.93%, 06/04/29 | 1,416 | 1,186,656 | ||||||||||
Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.93%, 06/02/28 | 3,348 | 3,087,070 | ||||||||||
Dun & Bradstreet Corp. | ||||||||||||
2022 Incremental Term Loan B2, (1-mo. CME Term SOFR + 3.00%), 8.32%, 01/18/29 | 706 | 704,126 | ||||||||||
2023 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 8.17%, 02/06/26 | 2,314 | 2,309,416 | ||||||||||
Element Materials Technology Group U.S. Holdings, Inc. | ||||||||||||
2022 USD Delayed Draw Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.74%, 07/06/29 | 604 | 595,246 | ||||||||||
2022 USD Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.74%, 07/06/29 | 1,308 | 1,289,699 | ||||||||||
Fleetcor Technologies Operating Co. LLC, Series C, 2021 Term Loan B4, (1-mo. CME Term SOFR + 1.75%), 7.17%, 04/28/28 | 2,028 | 2,019,542 | ||||||||||
Galaxy U.S. Opco, Inc., Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.75%), 10.07%, 04/29/29 | 1,823 | 1,733,796 | ||||||||||
Trans Union LLC | ||||||||||||
2019 Term Loan B5, (1-mo. CME Term SOFR + 1.75%), 7.17%, 11/16/26 | 1,837 | 1,834,358 | ||||||||||
2021 Term Loan B6, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.68%, 12/01/28 | 2,163 | 2,160,477 | ||||||||||
VS Buyer LLC, Term Loan B, (1-mo. CME Term SOFR + 3.25%), 8.67%, 02/28/27 | 1,647 | 1,638,800 | ||||||||||
|
| |||||||||||
20,937,775 | ||||||||||||
Real Estate Management & Development — 0.5% | ||||||||||||
Cushman & Wakefield U.S. Borrower LLC 2020 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 8.18%, 08/21/25 | 92 | 91,581 |
S C H E D U L E O F I N V E S T M E N T S | 10
|
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Real Estate Management & Development (continued) | ||||||||||||
Cushman & Wakefield U.S. Borrower LLC (continued) |
| |||||||||||
2023 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.67%, 01/31/30 | USD | 1,516 | $ | 1,488,679 | ||||||||
2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.32%, 01/31/30 | 878 | 869,220 | ||||||||||
|
| |||||||||||
2,449,480 | ||||||||||||
Semiconductors & Semiconductor Equipment — 0.4% | ||||||||||||
MKS Instruments, Inc. | ||||||||||||
2022 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.17%, 08/17/29 | 1,149 | 1,146,551 | ||||||||||
2023 Term Loan B, 10/03/30(h) | 202 | 201,668 | ||||||||||
Synaptics, Inc., Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.91%, 12/02/28 | 621 | 617,306 | ||||||||||
|
| |||||||||||
1,965,525 | ||||||||||||
Software — 13.3% | ||||||||||||
Applied Systems, Inc., 2022 Extended 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.89%, 09/18/26 | 979 | 980,622 | ||||||||||
Barracuda Networks, Inc., 2022 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.87%, 08/15/29 | 995 | 983,604 | ||||||||||
Boxer Parent Co., Inc., 2021 USD Term Loan, (1-mo. CME Term SOFR + 3.75%), 9.18%, 10/02/25 | 1,161 | 1,159,318 | ||||||||||
CCC Intelligent Solutions, Inc., Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.68%, 09/21/28 | 1,670 | 1,664,337 | ||||||||||
Central Parent, Inc., 2022 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.64%, 07/06/29 | 1,373 | 1,371,886 | ||||||||||
Cloud Software Group, Inc., 2022 USD Term Loan B, (3-mo. CEM Term SOFR + 4.50%) , 9.99%, 03/30/29 | 4,518 | 4,338,512 | ||||||||||
Cloudera, Inc. | ||||||||||||
2021 Second Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.42%, 10/08/29 | 780 | 737,100 | ||||||||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.17%, 10/08/28(d) | 859 | 842,179 | ||||||||||
Cornerstone OnDemand, Inc., 2021 Term Loan, (3- mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.18%, 10/16/28 | 1,002 | 950,389 | ||||||||||
Delta TopCo, Inc., 2020 2nd Lien Term Loan, (6-mo. CME Term SOFR at 0.75% Floor + 7.25%), 12.57%, 12/01/28(d) | 385 | 367,675 | ||||||||||
E2open LLC, 2020 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.93%, 02/04/28 | 282 | 281,645 | ||||||||||
Genesys Cloud Services Holdings II LLC, 2020 USD Term Loan B4, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.43%, 12/01/27 | 3,258 | 3,258,272 | ||||||||||
Helios Software Holdings, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR + 4.25%), 9.74%, 07/18/30 | 1,299 | 1,291,531 | ||||||||||
Informatica LLC, 2021 USD Term Loan B, (1-mo. CME Term SOFR + 2.75%), 8.18%, 10/27/28 | 3,046 | 3,032,628 |
Security | Par (000) | Value | ||||||||||
Software (continued) | ||||||||||||
Instructure Holdings, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.68%, 10/30/28 | USD | 724 | $ | 721,716 | ||||||||
Magenta Buyer LLC | ||||||||||||
2021 USD 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 5.00%), 10.63%, 07/27/28 | 2,402 | 1,780,092 | ||||||||||
2021 USD 2nd Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 8.25%), 13.88%, 07/27/29 | 2,204 | 1,013,704 | ||||||||||
McAfee Corp., 2022 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.18%, 03/01/29 | 3,449 | 3,364,173 | ||||||||||
MH Sub I LLC | ||||||||||||
2021 2nd Lien Term Loan, (1-mo. CME Term SOFR + 6.25%), 11.57%, 02/23/29 | 2,021 | 1,785,544 | ||||||||||
2023 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.57%, 05/03/28 | 6,426 | 6,207,642 | ||||||||||
NortonLifeLock, Inc., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), 7.42%, 09/12/29 | 1,622 | 1,615,785 | ||||||||||
Planview Parent, Inc., 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 7.25%), 12.74%, 12/18/28 | 930 | 841,650 | ||||||||||
Proofpoint, Inc. | ||||||||||||
1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.68%, 08/31/28 | 2,782 | 2,755,638 | ||||||||||
2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 6.25%), 11.68%, 08/31/29 | 1,451 | 1,452,364 | ||||||||||
RealPage, Inc. | ||||||||||||
1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.43%, 04/24/28 | 6,177 | 6,099,779 | ||||||||||
2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 6.50%), 11.93%, 04/23/29 | 2,965 | 2,968,859 | ||||||||||
Severin Acquisition LLC, 2018 Term Loan B, (3-mo. CME Term SOFR + 3.00%), 8.37%, 08/01/25 | 1,488 | 1,484,991 | ||||||||||
Sophia LP | ||||||||||||
2020 2nd Lien Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 8.00%), 13.42%, 10/09/28(d) | 2,779 | 2,772,053 | ||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.92%, 10/07/27 | 2,286 | 2,279,167 | ||||||||||
UKG, Inc., 2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 5.25%), 10.62%, 05/03/27 | 1,402 | 1,398,531 | ||||||||||
Ultimate Software Group, Inc., Term Loan B, (3-mo. CME Term SOFR + 3.75%), 9.22%, 05/04/26 | 1,624 | 1,621,418 | ||||||||||
Voyage Australia Pty. Ltd., USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.50%), 9.09%, 07/20/28 | 235 | 232,330 | ||||||||||
ZoomInfo LLC, 2023 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 8.17%, 02/28/30 | 216 | 216,095 | ||||||||||
|
| |||||||||||
61,871,229 | ||||||||||||
Specialty Retail — 2.5% | ||||||||||||
CD&R Firefly Bidco Ltd., 2023 GBP Term Loan B5, (3-mo. SONIA + 6.00%), 11.04%, 06/21/28 | GBP | 1,000 | 1,188,987 | |||||||||
EG America LLC, 2018 USD Term Loan, (1-mo. SOFR + 4.00%), 9.41%, 02/07/25 | USD | 1,320 | 1,296,585 |
11
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Specialty Retail (continued) | ||||||||||||
EG Group Ltd., 2021 Term Loan, (1-mo. CME Term SOFR + 4.25%), 9.73%, 03/31/26 | USD | 521 | $ | 520,491 | ||||||||
Mavis Tire Express Services Corp., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.43%, 05/04/28 | 2,972 | 2,961,200 | ||||||||||
PetSmart, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.17%, 02/11/28 | 3,654 | 3,639,195 | ||||||||||
Pilot Travel Centers LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 2.00%), 7.42%, 08/04/28 | 1,134 | 1,131,376 | ||||||||||
Restoration Hardware, Inc., 2022 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.67%, 10/20/28 | 859 | 825,489 | ||||||||||
RVR Dealership Holdings LLC, Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.25%, 02/08/28(d) | 242 | 214,850 | ||||||||||
|
| |||||||||||
11,778,173 | ||||||||||||
Technology Hardware, Storage & Peripherals — 0.1% | ||||||||||||
Electronics for Imaging, Inc., Term Loan, (1-mo. CME Term SOFR + 5.00%), 10.42%, 07/23/26 | 795 | 524,468 | ||||||||||
|
| |||||||||||
Textiles, Apparel & Luxury Goods — 0.3% | ||||||||||||
Crocs, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.53%, 02/20/29 | 894 | 895,309 | ||||||||||
Hanesbrands, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.07%, 03/08/30(d) | 518 | 506,731 | ||||||||||
|
| |||||||||||
1,402,040 | ||||||||||||
Trading Companies & Distributors — 2.6% | ||||||||||||
Beacon Roofing Supply, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.68%, 05/19/28 | 1,364 | 1,362,796 | ||||||||||
Core & Main LP, 2021 Term Loan B, (3-mo. CME Term SOFR + 2.50%), 7.84%, 07/27/28 | 4,068 | 4,055,559 | ||||||||||
SRS Distribution, Inc. | ||||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.93%, 06/02/28 | 2,751 | 2,719,640 | ||||||||||
2022 Incremental Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.92%, 06/02/28 | 982 | 971,781 | ||||||||||
TMK Hawk Parent Corp.(d) | ||||||||||||
2020 Super Priority First Out Term Loan A, (3-mo. CME Term SOFR + 9.50%), 15.17%, 05/30/24 | 965 | 955,505 | ||||||||||
2020 Super Priority Second Out Term Loan B, (3-mo. CME Term SOFR + 3.50%), 9.17%, 08/28/24 | 3,026 | 1,936,576 | ||||||||||
|
| |||||||||||
12,001,857 | ||||||||||||
Transportation Infrastructure — 0.6% | ||||||||||||
Apple Bidco LLC, 2022 Incremental Term Loan, (1- mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.32%, 09/22/28 | 741 | 740,028 | ||||||||||
KKR Apple Bidco LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.18%, 09/22/28 | 1,159 | 1,149,989 | ||||||||||
OLA Netherlands BV, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 6.25%), 11.57%, 12/15/26(d) | 842 | 833,239 | ||||||||||
Rand Parent LLC, 2023 Term Loan B, (3-mo. CME Term SOFR + 4.25%), 9.64%, 03/17/30 | 245 | 236,918 | ||||||||||
|
| |||||||||||
2,960,174 |
Security | Par (000) | Value | ||||||||||
Wireless Telecommunication Services — 1.1% | ||||||||||||
Digicel International, 2017 Term Loan B1, 05/27/24(h). | USD | 36 | $ | 31,792 | ||||||||
Digicel International Finance Ltd., 2017 Term Loan B, (3-mo. LIBOR US + 3.25%), 8.90%, 05/28/24 | 817 | 733,558 | ||||||||||
GOGO Intermediate Holdings LLC, Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.18%, 04/30/28 | 932 | 928,969 | ||||||||||
SBA Senior Finance II LLC, 2018 Term Loan B, (1-mo. CME Term SOFR + 1.75%), 7.17%, 04/11/25 | 3,316 | 3,312,986 | ||||||||||
|
| |||||||||||
5,007,305 | ||||||||||||
|
| |||||||||||
Total Floating Rate Loan Interests — 127.2% |
| 591,936,502 | ||||||||||
|
| |||||||||||
Shares | ||||||||||||
Investment Companies | ||||||||||||
Equity Funds — 0.1% | ||||||||||||
Janus Henderson AAA CLO ETF | 10,000 | 503,300 | ||||||||||
|
| |||||||||||
Fixed Income Funds — 1.7% | ||||||||||||
Invesco Senior Loan ETF | 119,300 | 2,504,107 | ||||||||||
iShares 0-5 Year High Yield Corporate Bond ETF(j) | 5,000 | 205,150 | ||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF(j) | 70,000 | 5,160,400 | ||||||||||
|
| |||||||||||
7,869,657 | ||||||||||||
|
| |||||||||||
Total Investment Companies — 1.8% |
| 8,372,957 | ||||||||||
|
| |||||||||||
Benefical Interest (000) | ||||||||||||
Other Interests | ||||||||||||
Capital Markets — 0.0% | ||||||||||||
Millennium Lender Claim Trust(d)(k) | USD | 1,607 | — | |||||||||
|
| |||||||||||
Industrial Conglomerates — 0.0% | ||||||||||||
Millennium Corp. Claim(d)(k) | 1,508 | — | ||||||||||
|
| |||||||||||
Total Other Interests — 0.0% | — | |||||||||||
|
| |||||||||||
Shares | ||||||||||||
Warrants | ||||||||||||
Consumer Discretionary — 0.0% | ||||||||||||
Service King (Carnelian Point), (Exercisable 01/14/23, 1 Share for 1 Warrant, Expires 06/30/27, Strike Price USD 10.00)(c) | 1,895 | — | ||||||||||
|
|
S C H E D U L E O F I N V E S T M E N T S | 12 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Oil, Gas & Consumable Fuels — 0.0% | ||||||||
California Resources Corp., (Issued/Exercisable 11/03/20, 1 Share for 1 Warrant, Expires 10/27/24, Strike Price USD 36.00)(c) | 999 | $ | 21,289 | |||||
|
| |||||||
Total Warrants — 0.0% |
| 21,289 | ||||||
|
| |||||||
Total Investments — 132.2% |
| 615,402,568 | ||||||
Liabilities in Excess of Other Assets — (32.2)% |
| (149,908,456 | ) | |||||
|
| |||||||
Net Assets — 100.0% |
| $ | 465,494,112 | |||||
|
|
(a) | Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(b) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(c) | Non-income producing security. |
(d) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(e) | Restricted security as to resale, excluding 144A securities. The Fund held restricted securities with a current value of $251,711, representing 0.1% of its net assets as of period end, and an original cost of $232,324. |
(f) | Issuer filed for bankruptcy and/or is in default. |
(g) | Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. |
(h) | Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate. |
(i) | Rounds to less than 1,000. |
(j) | Affiliate of the Fund. |
(k) | Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities. |
For Fund compliance purposes, the Fund’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended September 30, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 12/31/22 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 09/30/23 | Shares Held at 09/30/23 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class(a) | $ | — | $ | 30,133,093 | $ | (30,133,093 | ) | $ | — | $ | — | $ | — | — | $ | 8,914 | $ | — | ||||||||||||||||||
iShares 0-5 Year High Yield Corporate Bond ETF | — | 204,381 | — | — | 769 | 205,150 | 5,000 | 2,192 | — | |||||||||||||||||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF | 736,300 | 7,972,560 | (3,380,993 | ) | (37,207 | ) | (130,260 | ) | 5,160,400 | 70,000 | 207,718 | — | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | (37,207 | ) | $ | (129,491 | ) | $ | 5,365,550 | $ | 218,824 | $ | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | As of period end, the entity is no longer held. |
Derivative Financial Instruments Outstanding as of Period End
Forward Foreign Currency Exchange Contracts
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||
USD | 300,201 | EUR | 280,118 | Toronto-Dominion Bank | 12/20/23 | $ | 2,960 | |||||||||||||
USD | 525,884 | EUR | 490,882 | UBS AG | 12/20/23 | 4,997 | ||||||||||||||
USD | 2,232,650 | GBP | 1,803,000 | Barclays Bank PLC | 12/20/23 | 31,613 | ||||||||||||||
|
| |||||||||||||||||||
$ | 39,570 | |||||||||||||||||||
|
|
13
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)
|
Centrally Cleared Credit Default Swaps — Sell Protection
Reference Obligation/Index | | Financing Rate Received by the Fund | | | Payment Frequency | | Termination Date | Credit Rating(a) | | Notional Amount (000) | (b) | Value | | Upfront Premium Paid (Received) | | | Unrealized Appreciation (Depreciation) | | ||||||||||
CDX.NA.HY.39.V2 | 5.00 | % | Quarterly | 12/20/27 | B | USD 4,480 | $ 113,559 | $ | (59,954 | ) | $ | 173,513 | ||||||||||||||||
CDX.NA.HY.40.V1 | 5.00 | Quarterly | 06/20/28 | B | USD 4,485 | 77,853 | 116,146 | (38,293 | ) | |||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||
$ 191,412 | $ | 56,192 | $ | 135,220 | ||||||||||||||||||||||||
|
|
|
|
|
|
(a) | Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings. |
(b) | The maximum potential amount the Fund may pay should a negative credit event take place as defined under the terms of the agreement. |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
• | Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access; |
• | Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and |
• | Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments). |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Asset-Backed Securities | $ | — | $ | 5,027,479 | $ | — | $ | 5,027,479 | ||||||||
Common Stocks | ||||||||||||||||
Construction & Engineering | — | 30,983 | — | 30,983 | ||||||||||||
Electrical Equipment | 11,476 | — | — | 11,476 | ||||||||||||
Energy Equipment & Services | — | — | — | — | ||||||||||||
Entertainment | — | — | 251,711 | 251,711 | ||||||||||||
Financial Services | — | 411,882 | — | 411,882 | ||||||||||||
Oil, Gas & Consumable Fuels | — | — | 3,099 | 3,099 | ||||||||||||
Semiconductors & Semiconductor Equipment | 2,689 | — | — | 2,689 | ||||||||||||
Corporate Bonds | — | 8,343,675 | — | 8,343,675 | ||||||||||||
Fixed Rate Loan Interests | — | 988,826 | — | 988,826 | ||||||||||||
Floating Rate Loan Interests | — | 577,713,987 | 14,222,515 | 591,936,502 | ||||||||||||
Investment Companies | 8,372,957 | — | — | 8,372,957 | ||||||||||||
Other Interests | — | — | — | — | ||||||||||||
Warrants | 21,289 | — | — | 21,289 | ||||||||||||
Liabilities | ||||||||||||||||
Unfunded Floating Rate Loan Interests(a) | — | (3,487 | ) | — | (3,487 | ) | ||||||||||
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$ | 8,408,411 | $ | 592,513,345 | $ | 14,477,325 | $ | 615,399,081 | |||||||||
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S C H E D U L E O F I N V E S T M E N T S | 14 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)
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Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Derivative Financial Instruments(b) | ||||||||||||||||
Assets | ||||||||||||||||
Credit Contracts | $ | — | $ | 173,513 | $ | — | $ | 173,513 | ||||||||
Foreign Currency Exchange Contracts | — | 39,570 | — | 39,570 | ||||||||||||
Liabilities | ||||||||||||||||
Credit Contracts | — | (38,293 | ) | — | (38,293 | ) | ||||||||||
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$ | — | $ | 174,790 | $ | — | $ | 174,790 | |||||||||
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(a) | Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment. |
(b) | Derivative financial instruments are swaps and forward foreign currency exchange contracts. Swaps and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
A reconciliation of Level 3 financial instruments is presented when the Fund had a significant amount of Level 3 investments and derivative financial instruments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:
Common Stocks | Corporate Bonds | Floating Rate Loan | Other Interests | Total | ||||||||||||||||
Assets | ||||||||||||||||||||
Opening balance, as of December 31, 2022 | $ | 4,440 | $ | — | (a) | $ | 12,129,451 | $ | — | (a) | $ | 12,133,891 | ||||||||
Transfers into Level 3(b) | — | — | 8,895,256 | — | 8,895,256 | |||||||||||||||
Transfers out of Level 3(c) | — | — | (5,521,415 | ) | — | (5,521,415 | ) | |||||||||||||
Accrued discounts/premiums | — | — | 293,952 | — | 293,952 | |||||||||||||||
Net realized gain (loss) | (213,184 | ) | — | (77,231 | ) | — | (290,415 | ) | ||||||||||||
Net change in unrealized appreciation (depreciation)(d) | 232,052 | — | 592,409 | — | 824,461 | |||||||||||||||
Purchases | 232,325 | — | 2,894,493 | — | 3,126,818 | |||||||||||||||
Sales | (823 | ) | — | (4,984,400 | ) | — | (4,985,223 | ) | ||||||||||||
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Closing balance, as of September 30, 2023 | $ | 254,810 | $ | — | (a) | $ | 14,222,515 | $ | — | (a) | $ | 14,477,325 | ||||||||
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Net change in unrealized appreciation (depreciation) on investments still held at September 30, 2023(d) | $ | 19,387 | $ | — | $ | 543,525 $ | — | $ | 562,912 | |||||||||||
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(a) | Rounds to less than $1. |
(b) | As of December 31, 2022, the Fund used observable inputs in determining the value of certain investments. As of September 30, 2023, the Fund used significant unobservable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 2 to Level 3 in the disclosure hierarchy. |
(c) | As of December 31, 2022, the Fund used significant unobservable inputs in determining the value of certain investments. As of September 30, 2023, the Fund used observable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 3 to Level 2 in the disclosure hierarchy. |
(d) | Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at September 30, 2023 is generally due to investments no longer held or categorized as Level 3 at period end. |
The Fund’s financial instruments that are categorized as Level 3 were valued utilizing third-party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third-party information could result in a significantly lower or higher value of such Level 3 financial instruments.
Currency Abbreviation | Portfolio Abbreviation (continued) | |||||
EUR | Euro | SCA | Societe en Commandite par Actions | |||
GBP | British Pound | SOFR | Secured Overnight Financing Rate | |||
USD | United States Dollar | SONIA | Sterling Overnight Interbank Average Rate | |||
Portfolio Abbreviation | ||||||
CLO | Collateralized Loan Obligation | |||||
DAC | Designated Activity Company | |||||
ETF | Exchange-Traded Fund | |||||
EURIBOR | Euro Interbank Offered Rate | |||||
LIBOR | London Interbank Offered Rate | |||||
PIK | Payment-in-Kind |
15